INDIA BUSINESS UPDATE - Raja`s Aide Sadiq Batcha Commits Suicide; Sensex Recoups 191 Pts; Monetary Policy Poll Expects 25 Bps Hike In Rates

Wednesday, Mar 16, 2011 SPECIAL LEAD Click here for India Business Update Mobile Version RAJA'S AIDE SADIQ BATCHA 'COMMITS SUICIDE' Former telecom minister A Raja's close associate Sadiq Batcha allegedly committed suicide in Chennai on Wednesday. His body was taken to Chennai's Apollo Hospital where the doctors declared him dead. Batcha was the Managing Director of a real estate company Green House Promoters, alleged to be a front company for Raja. Janata Party President Subramanian Swamy, who is a petitioner in the 2G case, expressed doubts over Batcha committing suicide. read more LEAD STORIES SENSEX RECOUPS 191 PTS ON POSITIVE ASIAN CUES Short covering and sharp recovery in Asian markets helped Sensex end up at 18,358.69 points. Nifty ended at 5,511.15, up 61.50 points. read more MONETARY POLICY POLL: 25 BPS HIKE IN RATES A CNBC-TV18 poll shows that 70% expect RBI, on Thursday, to hike the repo rate by 25 bps to 6.75% while 65% expect a 25 bps hike in reverse repo rate read more RS 1.6 LK CR LOCKED IN DISPUTES BETWEEN I-T, TAXPAYERS The government today said over Rs 1.60 lakh crore has been locked up in disputes between the income tax department and taxpayers as on January 2011. read more TOP STORIES • 2G case: CBI quizzes Attorney General, RBI Governor • Chargesheet against Raja, 2 cos by Mar 31: CBI to SC • I-T raids in JSW Steel, JSW Energy premises • Rs 2,195 cr to I-T dept, SBI from Harshad Mehta assets • Brent rebounds on Bahrain, Japan nuclear crisis • Former CVC Thomas appeals to President • Goldman Sachs buys Benchmark AMC • PSU banks hold back Rs 1,200 cr loans to DB Realty • Tata Steel to sell Rs 1,500 cr perpetual bonds • Hero Honda promoter pledges further stake to IL&FS • HCL Tech submits EoI to acquire 50% in EXL Services • Losses on diesel sales touch record Rs 15.79/litre • CIC Energy, JSW extend buyout deadline to May 31 • L&T Infotech to bring back all Japan staff • Japan's Nikkei rebounds 5.7%, still seen vulnerable • Toyota to partially resume production in 7 plants • Foreign bankers flee Tokyo as nuclear crisis deepens • Workers briefly abandon Japan nuclear plant • Political barriers grow in $8.3 bn ASX, SGX deal • Con artists taking advantage of Facebook IPO buzz more stories TOP VIDEOS BBC's Hard Talk Show - Indian Economy Will Grow Faster Than China: Raghav Bahl, MD, Network18 There Is A Solution For Everything; High Oil Prices, Commodity Prices, Middle East Crisis...The World Doesn't Come To An End: Raamdeo Agrawal, Co-Founder, Motilal Oswal Financial Services Japan Will Need Significant Depreciation Of Yen To Increase Its Exports Because Domestic Demand Would Be Weak: Nouriel Roubini, Chairman, RGE The Bullish Sentiment That Came Up At The Beginning Of The Year Was Overstated: Leo Apotheker, President & CEO, Hewlett-Packard AT A GLANCE BSE 18358.69 +191.05 NSE 5511.15 +61.5 TURNOVER Rs. 110,909 cr BSE CASH Rs. 3,235 cr NSE CASH Rs. 11,343 cr NSE F&O Rs. 96,331 cr BULLION GOLD 20677 +72 SILVER 52716 +632 CRUDE WTI 98.87 +1.69 BRENT 4997.69 +82.67 FOREX $ / Re 45.07 -0.09 £ / Re 72.346 +0.02 € / Re 62.783 -0.16 EVENTS 17 March Primary Articles Inflation Rate For Week To March 5 Mid-Quarter Review Of Monetary Policy 2010-11 17-18 March CII-OECD 1st Green Manufacturing Summit, Taj Mahal, New Delhi 24-26 March 19th Convergence India 2011, Pragati Maidan, New Delhi 25 March 25th Skoch Summit: Reinventing India -- Shifting To Demand Side Governance, Shangrila, New Delhi Warren Buffett To Visit India To Launch Insurance Portal 25-27 March 17th International Exhibition & Conference On Diagnostic Medical Equipment & Technology, New Delhi EXPERT VIEWS "Murder and suicide will be a part of this (2G) case as lot of big people are involved. Their money, career and reputation is at stake. Sadiq (Batcha) was not a weak heart. He was a hard boiled character. I want to be doubly sure on whether its a suicide or not." Subramanian Swamy Janata Party President "I would like to assure the nation that on the basis of information received till date there is no danger to India from the radiation leaks in Fukushima...The distance between India and Fukushima is more than 6,500 km. Normally the rains will come and the radiation vapours will drop into the ocean." Ashwani Kumar Minister Of State For Science & Technology "They (Western nations) want Libyan oil. France now raises its head and says that it will strike Libya. Strike Libya? We'll be the one who strikes you! We struck you in Algeria, in Vietnam. You want to strike us? Come and give it a try." Muammar Gaddafi Libyan Leader WATCH OUT Investothon 2011 At the start of a new decade, CNBC-TV18 in partnership with NSE is initiating a unique and unprecedented show of support for the cause of the Indian Investor. It will bring together various stakeholders from nation's financial industry for a symbolic run to represent India's growth story. Tune into INVESTOTHON, Live from Bandra-Worli Sealink on CNBC-TV18. SHOW TIMINGS March 27th 2011 7 am onwards CNBC-TV18 PROGRAMME SCHEDULE STOCKS & INVESTING INDIA EARNINGS PORTFOLIO